Gold prices are hovering near a three-month high as traders continue to weigh the impact of President Trump's temporary travel ban and they look forward to major elections in the Netherlands, France, and Germany later this year.

On Monday, the Dow Jones slipped 19 points as investors continue to question the timing of President Trump's economic policies. Speculation is growing that the U.S. economy will not see the implementation of much of Trump's agenda until 2018. Meanwhile, more than 100 technology companies – including Apple Inc. (Nasdaq: AAPL), Alphabet Inc. (Nasdaq: GOOGL), and Microsoft Corp. (Nasdaq: MSFT) – filed a joint legal brief opposing President Trump's executive order to temporarily ban travel and immigration from seven countries.

Let's look at the numbers from Monday for the Dow, S&P 500, and Nasdaq:

What's Ahead for the Dow Jones Industrial Average Today

The Dow Jones Industrial Average projected a 10-point gain as investors eye another busy day of earnings reports and increased speculation on the timing of President Trump's economic proposals.

On the geopolitical front, expect a lot of noise today over events happening in England. House of Commons Speaker John Bercow has blocked President Trump from speaking in Parliament.

Bercow said he was opposed to Trump's appearance before the immigration ban but said that the executive order fueled even greater desire to prevent the U.S. president from speaking. This news comes at at time that Prime Minister Theresa May has urged her government to be "patient and constructive" in talks with the Trump administration.

Gold prices are hovering near a three-month high, while silver prices continue to climb. The price of silver has gained more than 9% so far in 2017. And the rally is just getting started. Money Morning Resource Specialist Peter Krauth offers four reasons why silver prices are going to pop more than 25% in 2017. Read his latest insight, right here.

Crude oil prices were ticking higher as traders eye developments between the Trump administration and leaders in Iran. Trump recently issued new sanctions on Iran after the country tested ballistic missiles and violated an accord between the West and Tehran.

Oil prices are also receiving a boost from positive insight regarding OPEC's goals of reducing excessive output. The oil cartel is working with non-member Russia to cut excessive production levels by roughly 1.8 million barrels per day (bpd). Still, some analysts are concerned that rising U.S. production could limit the potential upside for crude prices.

Stocks to Watch Today, Feb. 7, 2017

In earnings news, shares of Michael Kors Holdings Ltd. (NYSE: KORS) are in focus this morning as the sportswear fashion giant prepares to report earnings. Wall Street anticipates that the company will report year-over-year earnings growth for the third quarter; however, Wall Street also anticipates the firm will announce that revenue declined. Analysts expect the firm will blame promotional costs in the handbag industry as the reason for such a decline.

BP Plc. (NYSE ADR: BP) stock is falling in pre-market hours after the British energy giant saw its earnings hit a 10-year low. The company's profits fell for the second consecutive year as lower oil prices hurt performance.

After the bell, Walt Disney Co. (NYSE: DIS) will report first-quarter earnings. Wall Street anticipates a small jump in revenue thanks in part to its latest animated film, "Moana." Still, investors have been raising concerns about falling advertising revenue at ESPN. Cord-cutting by cable owners has led to a sharp drop in ESPN subscribers.

Today's U.S. Economic Calendar (all times EST)

International Trade at 8:30 a.m.

Gallup US ECI at 8:30 a.m.

Redbook at 8:55 a.m.

JOLTS at 10 a.m.

Four-Week Bill Auction at 11:30 a.m.

Three-Year Note Auction at 1 p.m.

Consumer Credit at 3 p.m.

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Today's Markets

DJIA82.66(0.35%)23,675.64

NASDAQ30.18(0.45%)6,783.91

S&P0.21(0.01%)2,546.16

MSFT1.08(1.05%)103.97

GOOGL17.76(1.73%)1,043.41

AAPL2.13(1.30%)166.07

KORS0.12(0.31%)37.98

BP0.59(-1.54%)37.82

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